Date
26 September 2017

Taiwan trade suffers as Korea far ahead in FTA push, paper says

Taiwan’s external trade has shown lost ground, with some of it irretrievable, as the island has lagged behind major competitor South Korea in signing free-trade agreements (FTA) with various nations, Economic Daily News reported Tuesday, citing Taiwan’s Industrial Development Bureau and the Bureau of Foreign Trade under the islands Ministry of economic Affairs. Vice minister Cho Shih-chao was quoted as saying that only 9.65 percent of Taiwan’s exports have been covered by the five FTA deals inked by the island so far, compared to 36.11 percent for South Korea which has inked deals with 48 countries. Nearly 90 percent of Taiwan’s exports overlap with those of South Korea, the report said.

– Contact HKEJ at [email protected]

TL/AC/RC

 

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